10:18 AM EDT, 09/12/2024 (MT Newswires) -- Great Elm Capital ( GECC ) said Thursday that it has started an underwritten public offering of unsecured notes due 2029.

The company said the notes are expected to trade on the Nasdaq Global Market under the symbol "GECCH" within 30 days from the issue date. Terms, including interest rate, will be determined after negotiations with the underwriters, the company added.

Great Elm said it plans to use the net proceeds from the offering along with cash on hand to redeem all outstanding 6.75% unsecured notes due 2025.

Shares of the company were down 1.5% in recent trading.

Price: 10.29, Change: -0.16, Percent Change: -1.53